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Annual contributions qualify for tax deduction under Section 80C of income tax as per the old Tax regime. The tax benefit is capped at ₹1.5 lacs per financial year. PPF falls under the EEE (Exempt, Exempt, Exempt) tax basket. Contribution to the PPF account is eligible for tax benefit under Section 80C of the Income Tax Act in the old Tax ...
National Savings Certificate (NSC) (VIII Issue) Infrastructure bonds §80CCC – Life Insurance Corporation annuity premiums up to ₹ 150,000 §80CCD – Employee pension contributions, up to 10 percent of salary §80CCG – Rajiv Gandhi Equity Savings Scheme, 2013: 50 percent of investment or ₹25,000 (whichever is lower), up to ₹ 50,000
As per an analysis by the Revenue Department, 91.7% of tax filers (about 5.3 crore out of 5.78 crore tax filers) claimed a cumulative deduction (Sec 80 (C) + Sec 80 (D) + NPS + Loan Interest Repayment + Standard Deduction + others) of less than ₹2 lakh and less than 1 per cent of all tax filers (nearly 3.7 lakh) claimed deductions of over Rs ...
Adjustments to income: IRA deduction or alimony expenses change. Final Take Learning how to fill out a W-4 form correctly can help you to avoid a massive tax bill .
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Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, cost accountant, Software Engineer, lawyer, doctor etc. are required to pay this professional tax.
One of the victims, a 41-year-old man, reported to police that he’d been beaten by “a group of teenagers” in a parking lot on West Northwest Highway in Mount Prospect, Illinois around 9:45 p ...
Campbell was nominated for a prestigious off-field award, was a first-team All-Pro in his career, started 122 of 128 games in his career and made almost $40 million in salary, but he'll probably ...